Everybody understands that an insurance policy helps you manage risk and protects you against unexpected misfortune. However, too many people choose to forego coverage in favor of risk because they'd rather spend their money elsewhere. This is unfortunate, as insurance is a really valuable financial planning tool. In fact, below are five types of insurance that everyone could benefit from.

5 Types of Insurance That Everyone Should Have

1. Property Insurance

Whether you own a home or rent an apartment, you have belongings that, when added up, probably amount to a substantial value. Property insurance protects them against fires, storms, vandalism, and even theft.

2. Liability Insurance

An unforeseen accident can derail even the most well-laid plans. For instance, if you accidentally damage someone's property, or if your dog bites a neighbor while you’re out on a walk, you could face thousands—even hundreds of thousands—of dollars in repair, medical, and legal bills. Personal liability insurance guards against this.

3. Life Insurance

Even if you do not have dependents who rely on your income—the best reason to buy life insurance—you may have a mortgage or student loan debt for which someone cosigned. If you died suddenly, your cosigners would be faced with that debt. With life insurance, you can cover the outstanding balance and pay your final expenses, so your survivors are not burdened with that sudden expense.

4. Health Insurance

Even if you are young and healthy, you could still suffer an injury that lands you in the hospital and requires multiple expensive surgeries. Health insurance pays for those sudden expenses and could keep you out of dire financial jeopardy.

5. Long-Term Disability

That injury that required health insurance could also leave you disabled to the point that you're unable to work. If that should happen, or if you suffered a debilitating stroke, heart attack, or serious illness, a long-term disability insurance policy would provide an income even while you're unable to support yourself.

To discuss your coverage options with a friendly, experienced agent, contact Integrity Insurance Solutions in San Marcos, TX. They'll help you design the insurance policies you need to protect yourself, your family, and your belongings. They specialize in auto, liability, and homeowners insurance and can tailor coverage to particular needs. Visit their website to view location details or call (512) 396-2211 to request a free insurance quote.